The Morning Leverage: Norwest Equity Unloads Gun Maker

Another private equity firm is shedding a gun investment. Norwest Equity Partners has agreed to sell Caliber Co., the parent company of hunting rifle and shotgun maker Savage Sports Corp., to Alliant Techsystems for $315 million, Amy Or reports. The sale comes months after the fatal shootings at Sandy Hook Elementary School in Newton, Conn., which prompted Cerberus Capital Management to explore a sale of firearm maker Freedom Group after the firm’s limited partner the California State Teachers Retirement System decided to review the investment.

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